A company's first event in the year commencing 1 July 2012 was to pay $250 cash for stationery purchased in June 2012; this was recognised as an expense in that month.Which of the following changes took place as a consequence of this event?
A) Assets increased by $250.
B) Liabilities decreased by $250.
C) Expenses increased by $250.
D) None of the above changes occurred.

Question

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The Answer of A company's first event in the year commencing 1 July 2012 was to pay $250 cash for stationery purchased in June 2012; this was recognised as an expense in that month.Which of the following changes took place as a consequence of this event?
A) Assets increased by $250.
B) Liabilities decreased by $250.
C) Expenses increased by $250.
D) None of the above changes occurred.

A Company's First Event in the Year Commencing 1 July